BDO and PKF in advanced talks over merger

11:58, 7 November 2012

ByManchester Evening News

Accountancy firms BDO and PKF are on track to merge early next year. The firms, which both have a strong presence in Manchester, said they are in advanced discussions over a tie-up which will create a practice with annual revenues of nearly £400m employing 3,500 people in the UK.

The firms, which both have a strong presence in Manchester, said they are in advanced discussions over a tie-up which will create a practice with annual revenues of nearly £400m employing 3,500 people in the UK.

In a joint statement, the firms said the proposed merger reflects their 'sustained commitment' to growth in their mid-market heartland.

Simon Michaels, managing partner of BDO, said: "Our two firms share a closely-aligned vision to lead in the mid-market, as well as similar cultures and a commitment to deliver exceptional client service.

"The merged firm will have a strong balance sheet, as well as unrivalled sector and geographic strength in many areas.

"The PKF team will enhance and complement our offerings to clients, bringing consulting expertise along with wide experience across audit, tax and advisory arenas. This exciting development demonstrates that both firms are ambitious for growth."

PKF's UK managing partner Martin Goodchild said: "This is a good strategic decision for both firms who have a desire to lead, from a position of strength, the inevitable consolidation of the mid-tier, which is long overdue.

"This combination will ensure a strong, profitable business, creating opportunities for all of our people and our clients, as it will enable them to benefit from new expertise and increased global reach."

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